The IRS and the Treasury released the final regulation (TD9942) on January 5, 2021, guiding the implementation of the various simplifying provisions of the law, known as the Tax Cuts...
Posted by Unifirst Financial & Tax Consultants on 06/24/2021
Although it is too late to elect Section 475 mark-to-market (MTM) for fiscal 2020, the opportunity for 2021 is now available. In this blog post, I'll cover the scenarios that make...
Posted by Unifirst Financial & Tax Consultants on 04/05/2021
The IRS, in conjunction with the Treasury Department, has released final regulations containing changes from the TCJA (2017). With these rules, taxpayers can determine discounted unpaid...
On September 1, 2020, the IRS updated its procedures regarding the application of IRC Section 7502, timely remittance treated as timely filing, and payment of electronically arched...
Posted by Daniel P Vigilante CPA and Profit Consultants on 10/16/2020
What is an Accounting Method?An accounting method refers to the rules that a business follows when reporting income and expenses. The two main accounting methods are accrual accounting...
Posted by Carmen Garcia on 11/30/2020
